OneUnited Bank is on a mission to tackle the racial wealth gap in America by launching its new BankBlackX movement.
What We Know:
- OneUnited Bank is the country’s largest Black-owned bank. They have launched a new initiative focused on financial empowerment within the African American community.
- The campaign, “BankBlackX”, was created to provide financial literacy resources. As part of the initiative, the bank launched a free online Financial Education Center that provides valuable information about how to navigate major life milestones that are tied to finances including planning for retirement, the fundamentals of launching a small business and starting a new career.
- The bank has also launched the BankBlack Card and BankBlack Early Pay, where customers can get paid early.
- President and COO of the company Teri Williams states “We have many weapons to affect change, starting with the truth. The reality is that almost everything we have been taught about Black Americans and money has been wrong. We have been bamboozled and led astray…for 400 years. We need to share the truth to make financial literacy a core value of our community!”
OneUnited Bank is not the only one concerned with closing the racial wealth gap as stars Will Smith and Nas invested in an app designed to educate teenagers about the facets of money management.